Mumbai, 20th September 2023: In a startling revelation brought to light during the ongoing investigation by the Enforcement Directorate (ED), a deeply concerning development has emerged. According to ED sources, suspicions have arisen regarding the involvement of Saurabh Chandrakar, the promoter of the Mahadev online betting app, which boasts a substantial turnover of 5000 crores. It is alleged that Chandrakar may also be operating a similar betting app in Pakistan, potentially in collaboration with underworld gangs.
Furthermore, the latest ED report indicates that funds for the development of the Pakistani app were transferred from India through illicit hawala channels.
While such modus operandi is not new to the Indian investigative agencies, the scale and complexity of this particular case have raised concerns of potential links to the underworld and a widespread hawala network. Sources within ED suggest that the collaboration involving Saurabh Chandrakar, the promoter of the Mahadev online betting app, and his partner Ravi Uppal in launching a betting app in Pakistan with alleged underworld assistance has triggered this suspicion.
Launched in Pakistan under a local name, this app is suspected to have earned huge revenue in the last two years. It is said that this betting company is getting protection from underworld gangsters. This is the reason why, when notorious gangster Lawrence Bishnoi demanded ransom from Chandrakar, he easily shrugged off his threat. ED suspects that Dawood Ibrahim is the main accomplice in this whole case. A thorough investigation is currently underway.
Earlier this month, ED raided 39 locations in the country, including Kolkata, Bhopal, and Mumbai, in connection with M/s Mahadev’s online book betting app. In this raid, ED confiscated significant assets worth around Rs 417 crore in embezzlement of financial assets.
According to the information, Saurabh Chandrakar, the promoter of this company, spent a whopping Rs 200 crore on his marriage in the UAE in February this year. This marriage was a big event, as a large number of Bollywood and Pakistani artists, including Tiger Shroff, Atif Aslam, Fateh Ali Khan, Sunny Leone, and many more big celebrities, attended and performed at the event.
It is said that the Indian artists who have performed at the event have taken most of their payments in cash. Sources said that some took 80 percent of the amount in cash and 20 percent through checks. ED suspects that the artists received this cash through the Hawala network. ED is conducting further investigation in this case through the CCTV footage of the event.
According to the sources, it is said that 300 crores have been invested in betting apps in Pakistan, and it is reported that 30 percent of the profits in Pakistan are going to the underworld and the remaining 70 percent to Chandrakar and his associates. The ED suspects that the investment in Pakistan was raised from the profits of an Indian betting app.
Therefore, ED is investigating which hawala network was used to transport this money to Pakistan. The turnover of this app in India is five thousand crore rupees. ED is currently investigating the case further.